Tata Power to Acquire Welspun Renewables Energy

Tata Power Company Limited announced today that, Tata Power Renewable Energy Limited ("TPREL") has signed an SPA with Welspun Energy Private Limited to acquire its subsidiary Welspun Renewables Energy Private Limited ("WREPL").

Speaking on achieving this milestone, Mr. Anil Sardana, CEO & Managing Director, Tata Power, said, "The Company is pursuing growth in Renewable Energy space to create value for its shareholders through various organic and inorganic growth opportunities. This acquisition will enable the company to deliver significant value for all stakeholders as most of the assets are revenue generating and operating assets. Tata Power can further enhance value of these assets with its operational experience and financial optimization. The acquisition is also a significant step towards attaining the company's objective of having non-fossil fuel based capacity up to 30-40% of its total generating capacity."